UK GDP Advances at Fastest Pace in Six Years


The UK economy expanded 3.1 percent year-on-year in the first three months of 2014, up from a 2.7 percent expansion in the previous quarter. Preliminary estimates showed the economy accelerated for the fifth straight quarter.

Construction recorded the highest annual increase (5.1 percent), followed by distribution, hotels and restaurants (4.9 percent) and business services and finance output (+ 3.6 percent). 

Production output increased by 2.5 percent, agriculture advanced 1.8 percent and government and other services output increased by 1.5 percent. 

On a quarter-on-quarter basis, the economy advanced 0.8 percent, slightly below market expectations, but higher than a 0.7 percent expansion in the previous three-month period.  

UK GDP Advances at Fastest Pace in Six Years


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
4/29/2014 11:21:41 AM